Mark Yusko, CEO of Morgan Creek Capital, said cryptocurrencies and blockchain will create more assets than Web 1 and Web 2.
“We haven’t even reached the parabolic growth of Web 3 that will create untold wealth,” said Yusko.
During his career as a hedge fund manager, Yusko benefited from investing in early internet technology. He introduced cryptocurrencies in 2017 after realizing their potential for the Internet of Value: a new iteration of the Internet that would allow users to exchange values directly without going through financial intermediaries.
Compared to previous iterations of the Internet that revolutionized commerce and communications, the “network of trust,” as Yusko calls it, will generate exponentially greater wealth.
“Financial services are much bigger than information, communication and trade,” he emphasizes.
However, Yusko believes that before entering a phase of parabolic growth, the crypto industry must overcome resistance from traditional financial players and could face a wave of regulation.
“The incumbents really don’t want the troublemakers to win, so they’re going to fight really hard. They will break down regulatory barriers, they will try to acquire companies and the shell of the technology, ”he said.
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